Answer:
C. Debit Cost of goods Sold $5,000;
Credit Inventory $5,000
Explanation:
Preparation of the necessary adjusting entry to record inventory shrinkage
Since we assumed that the physical count of inventory showed $158,000 of inventory on hand and the inventory records reported $163,000 the first step to do is to find the difference between the two amount which is ($163,000-$58,000) given us a different of $5,000 which will now be recorded as:
Debit Cost of goods Sold $5,000
(163,000-158,000)
Credit Inventory $5,000
Answer:
The answer is true.
Explanation:
And increase or decrease in common stock or shareholders' equity is shown under statement of stockholders' equity.
It tells us the changes that happened from the beginning of the year till year ending.
It tells us how retained earnings decrease or increase, the dividend paid for the year, changes in common equity.
Answer:
The correct answer is letter "B": False.
Explanation:
An oligopoly is a market where a few companies collide to take control of the price and supply of the goods or services provided. On the other hand, a monopolistic competitive market is characterized by having many companies competing against each other. The competitive advantage of firms will determine if consumers choose to buy the products of one company or the other.
Thus, <em>Glamour Gal is a monopolistic competitive market.</em>
If i'm correct the answer is Companies under Oligopolistic market structures are interdependent. Collusion is a secret agreement among companies that may result from this interdependence.
